Chang 'an's performance in the first quarter of 2024 was not good. Operating income was 37.023 billion yuan, up 7.14% year-on-year, but net profit fell by 83.39%. The net profit after deducting non-repetitive gains and losses was 112 million yuan, a year-on-year decrease of 91.77%. Changan explained that the decline in net profit was mainly due to the impact of the acquisition of Deep Blue Vehicle Technology Co., Ltd. in the same period last year. In addition, Chang 'an's investment income in the first quarter also fell by 96.43% year-on-year to 177 million yuan. Changan's new energy business was still in a state of loss and needed to rely on the profits of fuel vehicles to support it. Overall, Chang 'an's performance in the first quarter was not as good as expected, and its net profit fell sharply.
Changan's net profit for the first quarter of 2024 was 1.158 billion yuan, down 83.39% year-on-year. In addition, the company achieved a total operating income of 37.023 billion yuan, an increase of 7.14% year-on-year. The data showed that Changan faced the challenge of a decline in net profit in the first quarter of 2024, despite an increase in total operating income. The specific reasons and influencing factors needed further investigation and analysis.
Chang 'an's 2023 first quarter report showed that the company achieved revenue of 34.556 billion yuan, down 0.06% year-on-year. The net profit of the parent company was 6.97 billion yuan, up 53.65% year-on-year. Despite the decline in revenue, net profit increased significantly, exceeding market expectations. Among them, the investment income mainly came from the acquisition of Deep Blue Car, which contributed to the company's performance growth. Chang 'an's financial performance was excellent, including gross profit margin, cash flow, and expense ratio. Although vehicle sales declined slightly, it was still better than the overall passenger car market. Overall, Chang 'an Automobile continued its good development momentum in the first quarter of 2023, with a substantial increase in net profit, demonstrating the momentum of healthy and sustainable development.
There was a difference in Changan's first quarter's net profit figures. According to different years and seasons, Changan's net profit increased and decreased. For example, in the first quarter of 2021, the net profit of Chang 'an was 720 million yuan, up 140.2% year-on-year. However, in the first quarter of 2024, Chang 'an's net profit fell by 83.39% to 1.158 billion yuan. According to the 2023 first quarter report, Changan's net profit was 1.481 billion yuan, down 34.75% year-on-year. Therefore, it was impossible to obtain the specific situation of Chang 'an's first quarter deduction of non-net profit.
According to the 2022 first quarter report disclosed by Chang 'an, Chang' an achieved a substantial increase in operating income and net profit. Operating income increased by 7.96% and net profit increased by 431.45% year-on-year. Such a profit performance was unexpected and attracted many optimistic expectations. One of the important reasons was that the shares of Avita Technology, a subsidiary of Chang 'an Automobile, had completed the capital increase and share expansion in the first quarter. In addition, Chang 'an had made great progress in the core technology and reliability of its products. The appearance design, interior configuration, and technological sense of the products had also been recognized by consumers. Chang 'an also restricted the behavior of dealers through the Companion Partner Program and provided strong after-sales service, attracting more consumers to choose Chang' an's products. In addition, Chang 'an Automobile continued to promote cost reduction and efficiency enhancement across the region, striving to reduce the adverse impact of rising raw material prices on operating results. In summary, the reasons for Changan's outstanding performance in the first quarter included the magical use of equity investment, the improvement of product technology, the improvement of after-sales service, and the promotion of cost reduction and efficiency enhancement.
Perfect World achieved operating income of 1.329 billion yuan in the first quarter of 2024, down 30.19% year-on-year. The net profit of the parent company was a loss of 29.76 million yuan. The company said that the main reason for the decline in net profit was that there were fewer new games launched in the first quarter. However, starting from the second quarter, Perfect World's game business had officially started a new product cycle, starting with the Peculiar Chronicles of the Goddess: Phantom of the Night. The game was loved by players after the domestic public beta and performed well on the game rankings of the AppStore and GooglePlay. Other than that, Perfect World had other games in development, such as Celestial Bane 2, and the market feedback was also very good. Overall, Perfect World's performance in the first quarter of 2024 was less affected by the launch of new games, but with the start of the new product cycle, the company was expected to contribute more new revenue in the future.
According to the first quarter report of 2021 issued by Xu Ji Electric, the company realized operating income of 2.072 billion yuan in the first quarter, with a year-on-year growth of 35.39%; the net profit attributed to shareholders of listed companies was 87.1688 million yuan, with a year-on-year growth of 26.06%. While waiting for the TV series, you can also click on the link below to read the classic original work of "Dafeng Nightwatchman"!
There was no clear information in Changan's first quarter report.
Chang 'an had a variety of models to choose from in the price range of 30,000 - 50,000 yuan. Among them were Changan V3, Changan V5, Changan Xinbao Mini, Changan Ono, Ono S, and Changan Shenqi T20. The Chang 'an V3 was an entry-level mini-noodle product. It had a full appearance and a simple and practical interior. Compared to other cars of the same price, the Changan V3 had an advantage in terms of body size and could carry more items. The Changan Ono S adopted a brand new front and rear design, and the interior center console was also upgraded to make it more fashionable. The price range was 39,900 to 55,900 yuan. The model was equipped with a 1.5L naturally aspirated engine with a maximum power of 107 horsepower and a peak moment of 145 N·m. The transmission system was matched with a five-speed manual transmission. In terms of the chassis, the new car used the front McPherson independent suspension and the rear leaf spring non-independent suspension. He needed to know more about other specific models.
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